Brookings Tax Policy Center article
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we showed that a revenue-neutral plan that met five specific goals that Governor Romney had put forth (reducing income tax rates by 20 percent, repealing the estate tax, the alternative minimum tax, and capital income taxes for middle class households, and enhancing saving and investment) would cut taxes for households with income above $200,000, and—as a result of revenue-neutrality—would therefore necessarily have to raise taxes on taxpayers below $200,000.
This was true even when we bent over backwards to make the plan as favorable to Romney as possible
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Quote:
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More generally, the basic power of arithmetic is overwhelming in showing that Governor Romney has so far overpromised on the tax side.
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Somewhere else I read that the Romney deficit reduction and budget balancing assumptions are based upon "possible" and "potential" economic upturns. So...if I were to make a million dollars a year, I could get out of debt very quickly.  A bank will not give me a loan based on that "assumption", but it's ok for our entire nation's economic well-being?
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- Mahatma Gandhi
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